Stocks That Historically Move With or Against Nvidia Earnings
Nvidia earnings have become a significant event that influences broader stock movements. Ahead of its latest quarterly report, CNBC Pro analyzed stocks historically correlated with Nvidia's performance on the day following its earnings release and those moving in opposition. The analysis identified semiconductor companies like Advanced Micro Devices (AMD) as having strong positive correlations due to their ties to AI infrastructure. Vertiv, Onto Innovation, Marvell, Micron, Broadcom, Synopsys, and Cadence Design also showed notable relationships with Nvidia's stock movements. On the other hand, defensive stocks such as Pfizer, McDonald’s, Verizon, Philip Morris, Amgen, Johnson & Johnson, and gold-related companies like Newmont exhibited inverse correlations. These findings suggest broader market rotation rather than direct influence from Nvidia earnings alone—growth-oriented sectors tend to rise with strong AI stock reactions while value names perform better when that enthusiasm wanes. The options market is pricing in a potential 5% move for Nvidia following the report, and Wall Street expects adjusted EPS of $2.10 on revenue of $92.18 billion.
Tickers: $AMD $AMGN $AVGO $CDNS $JNJ $MCD $MPWR $MRVL $MU $NEM $NVDA $ONTO $PFE $PM $SNPS $VRTX $VZ
Topics: AI infrastructure market correlation Nvidia semiconductors